Digitalization is inevitable, especially in Indonesia. History shows that successful businesses are the ones that can see a new opportunity. We can see today's giants are companies in Indonesia that have embraced digitalization since the beginning. Moreover, banking services are now more inclusive of the rise of e-wallets.
What must be agreed upon is the fact that almost all aspects of business in Indonesia are now online, from customer service to disbursement. These days, we can even make direct disbursements to e-wallets—thanks to the massive growth of financial technology. But before we dive deeper, let’s find out first what disbursement means in business.
What is Disbursement in Business?
It’s simple; any amount of money flowing from the company’s cash flow is considered a disbursement. When you disburse money, you make payment. Nonetheless, it’s part of day-to-day accounting and essential in running a business. If a company has larger disbursement than income, it may be a sign of financial collapse.
What are some examples of disbursement process in a business? Several regular payouts include bills, payroll, and dividend payments. Other than that, it can also involve paying for goods and services from your suppliers, insurance claims, and discounts to customers.
Not to be mistaken with reimbursement, disbursement is the first layer of payment. If the original payment must be refunded by any chance, then the next step is to make a reimbursement. For example, your employee paid a business expense out of their pocket. Therefore, the company should make the reimbursement to cover the cost of their bill payment.
Currently, there are three most common methods of disbursement: voucher, cash, and check. A disbursement check is still the most used method where the company will write a check and give it to the recipient to cash out or deposit it in a bank. Meanwhile, a disbursement voucher is issued to have the check made to pay someone for goods and services rendered. The latter, cash disbursement, is made in a specific period. It can be monthly, quarterly, or annually.
Aside from the three common methods, there is a considerably new and more convenient way to make a disbursement. Digital disbursement is just like any other kind of disbursement. What makes it superior is that it’s faster and more secure, especially for fraudulent disbursement, and businesses that make multiple payments to many accounts on a daily basis. It’s complete with real-time digital reconciliation and tracking, helping you monitor the process and ensure all payments are at the right amount. The money will be sent to the recipient’s bank account instantly.
Direct disbursement to e-Wallet
Digital disbursement is easy, fast, and paperless. Both the sender and recipient benefit from it. But is it possible to have the money disbursed to an e-wallet instead? Highly. In fact, it’s the new way to do it. Most people nowadays make their transactions via e-wallet instead of bank accounts. payment aggregator and disbursement e-wallet services can be used by individuals and businesses to conveniently pay their employees and vendors. The disbursement e-wallet features a simple and user-friendly interface that anyone can utilize. In addition, users are able to manage multiple accounts, add and delete accounts, transfer and track payments, view payment histories and numerous other valuable functions.
A survey published on Statista shows that the e-wallet transaction value in Singapore is projected to grow by 471,4% between 2020-2025. Other countries in Southeast Asia also forecast massive growth in e-wallet transactions and users. Sooner or later, your customers, employees, stakeholders, and partners will ask for their disbursement to be directed to their e-wallet accounts. And before that time comes, it’s nice to know that you have the means to do it, isn’t it?
How Does Disbursement API Work?
Disbursement API will help you make and manage all payments. No more spending hours typing different bank account numbers; the data is saved in the API and can be accessed anytime by authorized users. You can integrate disbursement API to your website easily. Another upside is less false data entry, more accurate payment, and faster process. Yes, you can also make digital disbursements directed to e-wallets.
Thanks to APIs, you can make any disbursements solutions for your business needs. You can even have your money disbursed to an e-wallet! So, yes, it’s possible to make direct disbursement to an e-wallet as long as you have a robust APIs system in place. All you have to do is integrate Ayoconnect’s API to your website or application. Once our system has received your request, you can disburse funds from your website or app automatically!
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